World Economic Forum: cryptocurrencies have the potential to create new markets

World Economic Forum: cryptocurrencies have the potential to create new markets

The World Economic Forum has recently issued a report focusing on cryptocurrencies and blockchain.


18 Dec 2020 , 12:57 @ Thomas Alford

World Economic Forum: cryptocurrencies have the potential to create new markets

The World Economic Forum has recently issued a report focusing on cryptocurrencies and blockchain.

The World Economic Forum and its Council for the Global Future are also becoming increasingly interested in cryptocurrencies. According to Finance Magnates, the independent international organization issued a report yesterday stressing the importance of cryptocurrencies.

In addition to stating in the report that cryptocurrencies have the potential to create new markets, the WEF also noted the importance of the blockchain technology itself.

The World Economic Forum particularly emphasized the use of blockchain technology in the World Food Program (WFP).

More than 106,000 Syrian Refugees in Jordan received food assistance through blockchain technology. So far, refugees received around $23.5 million worth of entitlements through 1.1 million blockchain transactions with 98% savings on bank fees.

We also learned more about UNICEF CryptoFund, which is a cryptocurrency-denominated venture fund within the United Nations. This fund was to purchase a total of 1,225 Ethereum and 1 Bitcoin in startups located in 8 countries worldwide.

Read also: Bitcoin has shown that it is the most profitable investment during the global economic crisis

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